Saint-Gobain Completes the Acquisition of CSR in Australia

Saint-Gobain has finalized the acquisition of CSR Limited, enhancing its presence in the Australian construction market. CSR, a leading supplier of building materials, reported sales of A$1.9 billion and an EBITDA margin of 18% for the fiscal year ending March 31, 2024. The acquisition aligns with Saint-Gobain's global focus on light and sustainable construction.

Benoit Bazin, CEO of Saint-Gobain, emphasized that the acquisition aligns with the company’s "Grow & Impact" strategy. He expressed confidence in leveraging CSR's existing strengths to accelerate growth in the Asia-Pacific region.

Julie Coates will step down as CSR's Managing Director and CEO but will remain on the board. Paul Dalton will succeed her as CEO following CSR’s delisting.

Coates stated the timing is right for new leadership, highlighting CSR's alignment with Saint-Gobain’s values and future growth opportunities. Dalton expressed enthusiasm for leading CSR under the Saint-Gobain umbrella.